“Industry pays debts, while despair increaseth them.”Benjamin Franklin · Almanahul sărmanului Richard · 1758 · 1758
Debt doesn't grow when you pay; it grows when you give up paying.
Franklin describes a psychological spiral, not just a financial one. Working people make payments and slowly regain control, which gives them energy to keep going. Those who give up postpone, borrow more, and pay interest, so the debt grows precisely while they do nothing. A maxed credit card shrinks with monthly payments, but balloons once the person quits and rolls it over.
There comes a point when debt is no longer a money problem but a looking problem. You avoid the statements because they hurt, and the hurt grows precisely because you avoid them. Franklin understood that shame fuels the spiral: you hide from the numbers, and the numbers grow in the dark. The first act of industry is not paying more, but looking. Open your statement on Sunday morning, with coffee, and just read it. Pay nothing yet. Simply knowing the exact figure breaks the hiding loop. The next step is choosing a single debt and attacking it first.
Why it matters It suits someone overwhelmed by debt and tempted to ignore statements, as an argument that small regular action beats avoidance fueled by shame.